Marketing principles and applications Essay Example | Topics and Well Written Essays - 1750 words

Marketing principles and applications - Essay Example In fact, a consumer can use the appliance even without reading the instructions leaflet. In opposition with other appliances of the same characteristics the particular coffee maker offers to the consumer the impression of being involved in a unique experience: a series of color icons, showing cups of coffee of different size, helps the user to decide the type of coffee preferred. Then, icons showing spoons full of sugar and coffee help the user to decide on the amount of coffee and sugar that should be used for the type of coffee chosen. Finally, an icon with cup of milk is used for showing to the user his potential to choose a cup of coffee with milk. Particular emphasis has been also given to the components of the appliance. High quality materials have been used ensuring that the flavor of the coffee is strong. In the context of the issues discussed above, the appliance chosen fully supports the firm’s mission statement, which focuses on quality, convenience and innovation, as described in the introduction section. 2.   Classify Company G’s products using the three-way consumer product classification system. The three-way Consumer Product Classification system is based on the following rule: products can be classified in three categories according to specific characteristics. Reference is made particularly to ‘convenience, shopping and specialty goods’ (Boone & Kurtz, 2012, p.352). The particular system is quite helpful for the development of effective marketing strategies (Boone & Kurtz, 2012, p.352). However, the system is also related to an important weakness: consumer preferences worldwide are not standardized (Ferrell & Hartline, 2010). In fact, differences can be identified in consumer trends even within the same market and in regard to the same product. For example, the performance of a product can be changed within the same market under the impact of severe turbulences in the global market (Ferrell & Hartline, 2010). In ge neral convenience products are those that are highly popular, at least more than shopping products which are not necessarily incorporated in consumers’ daily shopping (Boone & Kurtz, 2012). Moreover, specialty goods are goods of specific characteristics and, usually, of high price (Boone & Kurtz, 2012). Using the above classification system Company G’s products could be classified by referring to three categories: convenience, shopping and specialty goods. It should be noted that the Table refers only to the firm’s small appliances and not to all its products. The consumer factors involved in the classification process are presented in the first column. In the three other columns the relevance of the firm’s products to each product category is analyzed. A rounded rectangle is used for showing the product category to which the firm’s products are nearer; the blue color indicates a high relevance, the green color is used for showing an average releva nce while the red color shows the lack of any relevance. Consumer factor (Boone & Kurtz, 2012, p.352) Convenience products Shopping products Specialty products Time spent on identifying the firm’s products The firm’s products cannot be chosen instantly Thought is required before buying the firm’s products The decision-making process in regard to the purchase of the firm’s products may takes a lot of time Location of the firm’s products The firm’s products are not available in all retail stores The firm’

Marketing Management Assignment Example | Topics and Well Written Essays - 500 words

Marketing Management - Assignment Example The company also plans to raise the prices of the brand in the future to cater for the rising price of raw material used in the production of the beverage (New, 2011). The company in an effort increase the pricing is also cautious about the effect of the rise on the volume of their sales. There is a probability of reducing the volume of sales when compared to the previous years. The company also faces the problem of their customers switching to the competitors soft drink. In view of all this, the company carefully looks at the probable way of raising the price without affecting their volume of sales (New, 2011). The coca cola company employs the two channels of distribution the direct market channelling which involves dealing directly with the customer. This direct marketing channel can also have intermediaries who are the wholesalers and retailers. The other channel is the business distribution channels the organisation utilises its own sales group to sell to business customers. This does involve multilevel distribution. This is the most commonly used procedure by the coca-cola company (MKT300, 2008). The business distribution channels consist of manufactures representatives and industrial distributors as the intermediaries. The manufactures in the direct marketing ensure that consumers get the soft drinks in time. They sell to the consumer in bulk or retail amounts and at an affair price. The retailers also ensure that consumers get the goods they usually sell in small quantities and a higher price than the manufacturers. In the business, distribution channels the manufactures representatives do sell in bulk to the industrial distributors or the Industrial customer. The distribution channels ensure that the goods reach the customer on time and in the right manner (Coca-Cola Company, 2008). Company’s monitor their channel performance to be able to plan. The channel